Vale S.A. $VALE Shares Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management cut its Vale stake by 39.6% in the fourth quarter, leaving it with 172,732 shares valued at about $2.25 million.
• Vale reported first-quarter earnings of $0.44 per share, missing Wall Street estimates of $0.52, and revenue of $9.26 billion also came in below expectations.
• Analyst sentiment is mixed but leaning positive: Bank of America upgraded Vale to buy, while the overall consensus rating remains Moderate Buy with a target price of $16.54.

Pzena Investment Management LLC lowered its stake in Vale S.A. (NYSE:VALE - Free Report) by 39.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,732 shares of the basic materials company's stock after selling 113,149 shares during the quarter. Pzena Investment Management LLC's holdings in Vale were worth $2,251,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Capital World Investors lifted its position in Vale by 13.3% in the third quarter. Capital World Investors now owns 56,457,332 shares of the basic materials company's stock valued at $613,086,000 after buying an additional 6,643,125 shares during the last quarter. Capital International Investors increased its stake in Vale by 4.3% during the third quarter. Capital International Investors now owns 46,215,387 shares of the basic materials company's stock worth $501,715,000 after purchasing an additional 1,910,266 shares during the period. Invesco Ltd. increased its stake in Vale by 16.7% during the third quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company's stock worth $314,526,000 after purchasing an additional 4,151,563 shares during the period. Lazard Asset Management LLC increased its stake in Vale by 10.9% during the third quarter. Lazard Asset Management LLC now owns 22,272,507 shares of the basic materials company's stock worth $241,879,000 after purchasing an additional 2,192,285 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Vale by 77.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,809,302 shares of the basic materials company's stock worth $271,145,000 after purchasing an additional 9,103,727 shares during the period. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Down 0.1%

VALE stock opened at $16.46 on Friday. The company's 50 day moving average price is $16.24 and its 200 day moving average price is $14.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24. Vale S.A. has a fifty-two week low of $8.97 and a fifty-two week high of $17.94. The firm has a market capitalization of $74.69 billion, a price-to-earnings ratio of 24.56 and a beta of 0.46.

Vale (NYSE:VALE - Get Free Report) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). Vale had a return on equity of 21.10% and a net margin of 7.21%.The firm had revenue of $9.26 billion for the quarter, compared to analysts' expectations of $9.53 billion. On average, equities research analysts anticipate that Vale S.A. will post 2.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Sobrinho Sami Arap bought 12,990 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were purchased at an average cost of $16.11 per share, for a total transaction of $209,268.90. Following the completion of the purchase, the vice president owned 12,990 shares of the company's stock, valued at approximately $209,268.90. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parenti Grazielle Tallia bought 10,464 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were purchased at an average price of $16.11 per share, for a total transaction of $168,575.04. Following the completion of the purchase, the insider directly owned 10,464 shares of the company's stock, valued at approximately $168,575.04. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

A number of analysts have issued reports on VALE shares. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $18.00 to $19.00 in a research note on Thursday, April 2nd. Scotiabank reiterated a "sector perform" rating and set a $16.50 price target on shares of Vale in a research note on Monday, February 9th. Zacks Research lowered shares of Vale from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 5th. The Goldman Sachs Group boosted their price target on shares of Vale from $13.80 to $18.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company cut their price target on shares of Vale from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.54.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world's largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.

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